Ansaldo STS informs that today began the share buyback programme, pursuant to Art. 5 of the Regulation (EU) no. 596/2014, in performance of the resolution of the Shareholders’ Meeting held on 11 May 2017, which approved the authorization to purchase and dispose of own shares aimed at servicing the share incentive plans approved by the Company. Please note that the Shareholders’ Meeting held on 11 May 2017 approved the authorization to purchase, in one or more transactions, a maximum of 300,000 ordinary shares and that the Company, such as communicated on 31 May 2017, purchased 128,299 own shares in May 2017, to be assigned to 2014 tranche, related to the incentive plan called “Stock Grant Plan 2014-2016”.
Furthermore, the Company communicated that it would have purchased own shares related to 2015 tranche of the abovementioned Plan, in sufficient time to deliver the shares during 2018, as set forth in the Plan Regulation, within the overall maximum of 300,000 ordinary shares as authorized by the Shareholders’ resolution.
Therefore, taking into account the purchases made during 2017, the programme shall be carried out in accordance with the following terms:
- the maximum number of shares to be purchased in one or more transactions is equal to no. 171,701 of ordinary shares, corresponding to the 0.08% of the share capital, which are destined exclusively for the share incentive plans approved by the Company;
- taking into consideration the current share price of Ansaldo STS on the Milan Stock Exchange (19 March 2018), the maximum outlay for the purchase is estimated to be around EUR 2,150,000;
- the purchases will be made at price conditions in line with Art. 3 paragraph 2 of the Delegated Regulation (EU) no. 2016/1052 of the European Commission of 8 March 2016. In particular, such Article provides that the issuer does not purchase shares at a price above the highest between the price of the last independent transaction and the highest price of the independent offer on the Telematic Stock Exchange organized and managed by Borsa Italiana S.p.A.;
- the purchases will be made in accordance with the procedures set out in Art. 132 of the Legislative Decree no. 58/98, Art. 144-bis, paragraph 1, point b) of the Issuers’ Regulation and any other applicable Italian or European regulation, as well as the market practice recognized by Consob;
- the number of shares purchased on every day will be no higher than 25% of the average daily volume of Ansaldo STS traded on the Telematic Stock Exchange;
- the buyback must be carried out by November, 11th 2018; this term is in line with the final deadline set by the Shareholders’ Meeting above, equal to 18 months from the resolution of May, 11th 2017.
The Company will timely notify the public of any subsequent amendments to the buyback programme.
Under the programme, Ansaldo STS will inform Consob and the market of any share purchase transactions that have been carried out, according to the timetable provided by the regulation, providing the following information: 1) in detail: the date, time, number and price of every purchased share; 2) in aggregate form: for every day, the number of purchased shares and the weighted average price.
As of today the Company does not hold own shares.